Bensalem, Pennsylvania is a small borough in Bucks County, with a population of just 2,812. According to the U.S. Census Bureau, it has a median household income of $59,074 and a median age of 43.
According to the Pennsylvania Department of Education, 17.3% of the residents in Bensalem have earned a bachelor`s degree or higher. Additionally, 10.8% of the residents in Bensalem have a graduate or professional degree.
When it comes to the percentage of residents with a college degree, Bensalem falls in line with the state average.
The percentage of employed residents in Bensalem is slightly lower than the state average, with 16.8% of residents employed and an unemployment rate of 5.7%.
The median property value in Bensalem is about $146,000, which is greater than the state average. The homeownership rate is about the same, with a little more than half of the residents owning their home.
Bensalem has a large percentage of families headed by single parents, with 27.5% of the residents living in a family made up of only a single parent. The percentage of the population that is married is slightly below the state average.
Bensalem is a borough of Philadelphia located 15 miles southwest of Center City. The population is approximately 36,000, making it the smallest borough in Philadelphia County. A large majority of the residents work in Philadelphia, but a significant number work in nearby suburbs. Bensalem’s economy depends on a mix of tourism, retail, and healthcare.
Bensalem’s name is derived from “Bethlehem of the South,” a Native American name for the area. According to the National Park Service, the area was named after a Native American leader and chief who lived there. The area was first settled by Europeans in 1740 and the borough was incorporated in 1846.
The Borough of Bensalem has an unemployment rate of 3.9%, which is higher than the overall unemployment rate for Pennsylvania. As of 2016, the borough had a median household income of $44,073, which is lower than the national average. About 29% of the residents live below the poverty line, which is higher than the national average.
Despite its small size, Bensalem is home to many businesses and organizations. In addition to the National Park Service, the area is home to the Bensalem Township Public Library, which is one of the largest in the country. Other community organizations include the Bensalem Symphony Orchestra, which performs at the Carnegie Library, and the Bensalem Music Festival, which includes a youth choir, string ensemble, and jazz band. The city also has a symphony orchestra and a professional theater.
For many years, Bensalem was a center of the music industry. The former WCAU-TV and WFIL-FM studios are now the home of the Bensalem Symphony Orchestra, the oldest chamber music group in the United States. In addition, the Philadelphia Museum of Art owns the largest collection of art by the American Impressionist painter James McNeill Whistler. The museum also has a museum store and art galleries.
In 2018, Forbes listed Bensalem as the best place to live in the United States. The list is based on factors like crime rates, education, economy, and quality of life. Bensalem is one of just five cities to make the list.
The Bensalem Chamber of Commerce lists the top employment sectors as healthcare, food services, education, and arts and entertainment. It also states that there are many small business owners in the area.
There are many challenges that entrepreneurs face. To help you avoid some of these challenges, here are some reasons that launching a business is difficult:
1. Difficulties Finding the Right Space
Many businesses are based in the center of large cities. This is a good option if you have access to large markets, but it can also mean that you’ll have to compete with large businesses. If you want to avoid this, you’ll have to find a location that has the right kind of zoning. Some locations, like industrial parks, are perfect for starting a business.
2. Difficulties Financing Your Idea
When you start a business, you don’t just have to pay for the building and equipment. You also have to pay for rent, payroll, and inventory. You may also need to purchase licenses or permits. It can be challenging to come up with the funds needed to launch a business.
3. Difficulties Laying the Foundation
After you have a location and a good idea, you’ll still need to lay the foundation for your business. You’ll need to hire employees, train them, and prepare them for the responsibilities of their jobs. You’ll also need to set up a budget and make sure that your employees are paid on time.
4. Difficulties Dealing With Legal Issues
Your business may run into legal problems if it infringes on someone else’s intellectual property. You may also need to deal with employment laws, tax laws, or licensing requirements. This is one of the biggest challenges that entrepreneurs face. You may also need to find an attorney who has experience in the field that you are interested in.
5. Difficulties Building Your Brand
It can be challenging to establish yourself as a leader in your field. Customers may not trust you if you’ve never launched a business before, and if they know that you are new to the industry, they may not take your advice.